Briefcase

Briefcase

U.S. financial markets were closed Wednesday for the Independence Day holiday. Listings of today's trading will appear in Friday's Money section.

B&N.COM TO OFFER FREE SHIPPING

Following on the heels of its rival Amazon.com, Barnes & Noble.com has introduced a free shipping offer for two or more items purchased. The online bookseller also reduced the domestic standard ground rates for shipment of single items by a dollar, the company said. Barnes & Noble.com's spokeswoman Carolyn Brown said that the free shipping strategy is aimed at "making it easier for consumers to shop."

RATIONING TAKES TOLL IN BRAZIL

A new poll has found that 76 percent of Brazilian companies think they will have to cut production by an average of 9.5 percent in order to meet the government's energy-rationing targets. The survey of 918 companies taken by the National Industry Confederation also found that 39.2 percent said they would cut investments the next two years because of the rationing. In addition, 63.4 percent of the companies thought they would have to fire staff as a result of the production slowdown.

NYSE TO DELIST ASIA PULP

The New York Stock Exchange said it suspended from trading and will seek to delist the shares of Singapore-based Asia Pulp & Paper Co. Ltd., one of the world's largest vertically integrated pulp and paper companies. The NYSE said it will apply to the Securities and Exchange Commission to delist APP because the company's 30-day average share price is less than $1. A company representative would not comment. APP's American Depositary Shares stopped trading on April 4, when they closed at 12 cents.

PHAR-MOR WON'T PURSUE RIVAL

Phar-Mor Inc. has decided not to bid on its competitor Drug Emporium, which is going through bankruptcy reorganization. Phar-Mor, based in Youngstown, Ohio, decided that an existing offer from a Minnesota company for Ohio-based Drug Emporium would have made the acquisition too expensive, said John Ficarro, Phar-Mor chief administrative officer. "The amount of debt we'd have to incur . . . is just too much," Ficarro said.

KPMG WARNS OF UNSAVORY CLIENTS

In order to help offshore banks in the Cayman Islands avoid high-risk clients, accounting giant KPMG has created a database of individuals allegedly involved in criminal activity, the company said. The database of nearly 10,000 individuals is already available to clients via the Web and through KPMG's information bulletins. Those listed include people suspected of involvement in terrorism, drug dealing, money laundering, fraud, corruption and other financial crimes, said Ken Bryant of KPMG in the Cayman Islands.

MAIL-ORDER GARDENER SHUTS DOWN

Michigan Bulb Co. of Walker, Mich., one of the nation's best-known gardening mail-order firms, has closed, putting 225 employees out of work. The shutdown ended months of speculation as, one by one, board members and key executives quit the company, which is owned by Foster & Gallagher Inc. Two years ago, the company was the subject of adverse publicity surrounding its sweepstakes used to promote the company's garden catalogs.

ST. CROIX CASINO WINS APPROVAL

A plan for a new 400-room hotel and casino on St. Croix in the U.S. Virgin Islands has received preliminary approval from the government. The U.S. Virgin Islands Casino Control Commission granted Golden Gaming LLC -- majority owned by New Jersey businessman Paul Golden -- a statement of compliance, meaning the company can begin the process of obtaining a full-fledged casino license. If built, the casino would be the second on the Caribbean island.